After playing around with the Equity Management tool I found that a monthly gain of 6% and a risk per trade of 0,5% will suite me fine to start with, the millions have to wait awhile but as what was said so perfectly by Akeakami I choose the swallow hole,
And overall I dont want to have to much stress on my older days;)
Hello
I am very glad to be here!
I have a few questions:
1.Where can I get the indicator which indicate the low and the high of the previous week?
2How can I get pivots for months/weeks
3.Where can I find the SMT? I just plot teh cable and the fiber on the chart and looking for divergences?
4.Letâs say the the fiber was making lower lows and the cable couldnât do that (Nowadays).What does it say? That the fiber is going to get even lower or higher ? or the cable is going to go higher or lower?
Thanks,
Happy hilidays,
SHacharthebest
As far as i know there isnât a set time frame. Iâm sure weâll have everything we need soon enough. 
I enjoy it more when theyâre released slow. It allows me to take better notes instead of rushing to watch them all at once.
I almost want to suggest ICT put a FAQ into the first post because some of the questions are consistently popping up at a 10 page pace; seems like SMT is the most common, but how do you ask a guy to put in that much effort after everything already shared lol. Maybe just post that SMT picture a few pages backâŚ
Another thing I would suggest is a spot with all the indicators provided on this thread in a members indicator section or something, or a little blurb provided under the provided indicators stating [B]If you are looking for indicators, simply click the paperclip icon beside the thread`s title in the newbie island section and you can scroll through all the attachments.[/B] Indicators seem like the second most asked thing.
Or the third option is just let people like me who have experience in the thread just answer the questions :).
Again, to just summarize SMT; If one makes lower lows and the other does not, expect higher prices and take the one who made the lower lows. If one makes higher highs and the other does not, expect lower prices and take the one who made the higher highs. SMT is something to be used with other confluences to confirm a move, and when some of you newbies eventually get to the judas swing part, it is a good way to identify if your being led by a goat with cruel intentions.
Hi Shacharthebest, welcome to the thread.
You will find lots of useful information here from the basics to the more advanced stuff. Everything is explained in detail. Therefore it is advised to read the thread first and watch the videos from the first post.
Anyway, some short answers:
-
I donât know if there is such an indicator, but you can draw these two lines in a second manually. I think itâs best to do it manually because you WANT to study price and price action, so you have to watch your chart in different timeframes. When doing this itâs easy to plot the most important highs and lows on the chart.
Supposed you use an indicator for that you wouldnât study your charts anymore, just let the indicator do all the work. -
I havenât seen monthly/weekly pivots yet, but you could calculate them using a pivot point calculator. You will find one on Babypips --> tools --> forex calculators. Perhaps someone else knows of a prebuild monthly or weekly pivot point indicator.
-
You can open two charts, one with the cable and one withe fibre and compare them to find divergences. Or you go to the user control page (usercp at the top of this page). This thread should be listed there. Just click the paper clip symbol and all attachments from this thread will be displayed. Then look for the smt tool, someone posted it somewhere.
-
Fibre makes lower lows and cable doesnât --> bullish divergence, look for an upswing on both pairs
Cable makes lower lows and fibre doesnât --> bullish divergence, look for an upswing on both pairs
Fibre makes higher highs and cable doesnât --> bearish divergence, look for a down move on both pairs
Cable makes higher highs and fibre doesnât --> bearish divergence, look for a down move on both pairsDonât trade this signal just by itself, always look for confluences of S+R levels, Fibs, pivots first.
And again --> read this thread first and watch the videos, everything is explained in detail. If you are still confused after studying all the infos you are welcome to ask.
Thats it for now, hope i could help a little bit.
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Hey fury, seems like you type faster than i do⌠
You can use the Traderâs Trinity to note the high and low from the previous week.
http://forums.babypips.com/attachment.php?attachmentid=16874&d=1313401461
Or they could do it the right way and watch all the videos and read through the thread. Instead of the members always going back and having to review topics asked about so frequentlyâŚ
Maybe we could compile a document, have ICT review it briefly and then have him post it on the first page?
Questions asked about most frequently include
SMT
Indicators
Pivot time zones
market flow
Any others?
seriously, thats the most beneficiary and correct way
no hard feelings
Thanks for the reply Clint, but I think there might be some misunderstanding. I havenât lost any confidence in ICTs methods at all. I was just stating a hypothetical trading scenario and wondering if scaling back the risk after EVERY loss ended up costing you money. I used pips in my example just to keep things simple, the bottom line being that if you reduce your risk by half, the total money per winning trade is cut in half, just used pips for clarityâŚwhich maybe it had the opposite result. Anyways, thatâs all I was saying. Maybe AK answered my question with the comment about winning streaks being what grows your account. Thanks.
Matty
exactly! 100% Agree, you can not be hitch-hiking a train, just go back to the train station an get the next one⌠it might sound rude to some, but its the only way to get a firm understanding of all tools and concepts⌠I know is very daunting task to read trough 630+ pages, (when I found it, it was around 400), but youâll find a lots of 'lil nuggets along the way to keep you going⌠
and most importantly, youâll know the answers to all questions, youâll find all the indicators and will know how to use them by the time you finish the thread.
my 2 cents
:41:
matty when I had a look at the handling your losses video I thought about you. Clint was just stating that IF you had to lose confidence in the method then you should stop trading. AK did indeed answer your question, the method will give you more wins than losses, you are also using a near perfect example and trading as we know trading seldom goes that way. To give you some confirmation as per my own trading. I have been using a similar method in that I scale back when I incur losses. I did not go back to 1% after I had recouped 50% of the initial 1% loss, I went back to 1% when I felt like I was doing well. I have been flipping between 1% risk and 0.5% risk, I did not increase my risk to 1.5% and 2% when on a winning streak and I was STILL ahead most months. Yes I was no where near your 100% return, I am talking breaking even here too 3,4,5,6% per MONTH, nothing WOW, but I did this on minimal risk. My point here is that you will see your account grow trading this method, even when scaling back on your risk and even without increasing your risk when going through a winning streak. So implement ICTâs risk management model and stick with it, I am certainly going to do so and I will follow it religiously.
Get rid of the DOLLAR amount mentality. 10% a month is INCREDIBLE return on your money and when the account is at a respectable size the money will be more than enough. I too use to focus on how much moola Iâm making as opposed to the return on the account, when you get rid of it you become less stressed, more relaxed, more focused.
Thanks Shaunnd. I plan on following ICTs methods regarding risk this upcoming year, just wanted some more perspective on things, which you have given. Thanks.
Matty
I have been trying to write a program in excell to view the results (mixed winning and loosing) when using the ICT risk management profile or any substitute of it and compare it to risk management that we normaly would useâŚhowever, since I am not familiar with excell and certainly am not a programmer I got stuck! Could someone with experience write a program so we can back test the results. Would be interesting.
If not, I would do it the old fashion way (the hard one :32:)
TP
Here is the 1st few pages of the ICT FAQ,
1.How to setup mt4 indicators
2.The Smart Money Tool
3.Pivots and different time zones
I also included most of the indicators, please look and see if I excluded any.
Please someone check the first few pages of the FAQ, its getting late over here and there maybe 1 or 2 mistakes.
ICT FAQ.rar - 4shared.com - online file sharing and storage - download
Thank you all so much!
I have watched every video ICT has uploaded and I am trying to get started!
I really appreciate eveything in this thread!
You are all awsome!
Shacharthebest
So, my goal for the year is simple:
Earn enough to be able to live comfortably off my trading income alone.
That comes out to roughly $200 CDN a day, or about 2 20 pip trades per day (One in LO, one in NYO). It works well with my current work/life schedule, and it is completely within the realm of possibility. I should be able to do this within the next couple of months at most, if things go decently.
Beyond that, I have no goals. Iâll be happy with whatever else I can take. Hopefully once Iâm trading full time I will be able to set loftier pip goals, but I wonât worry about that until Iâm actually trading full time.
TAKE YOUR TIME - - I am a 3 yr ânewbieâ and Iâve figured âITâ out 9 or ten times - -but still the best I can do is break even.
just fyi i guess.
New Traders Trinity Vid up!!
I know Manta compiled a version of my Traderâs Trinity but there was another thread member that compiled one as well⌠I unfortunately do not have their name. I would like to credit them and post their indiâs on the first page⌠please stand up and be reckonized.
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